Korea Development Bank, DSME’s largest shareholder and main creditor, and the Export-Import Bank of Korea said they would provide funds to boost the shipbuilder’s cash flow and convert its liabilities into equity to cut debt.
After falling in 19 of the previous 21 months, railway employment levels in the United States in February 2017 ticked up 0.28 percent from the previous month, according to recent data from the U.S. Surface Transportation Board.
The Athens, Greece-based containership lessor has entered into a Securities Purchase Agreement with Kalani Investments for the sale of up to 150,000 newly designated series B-1 and B-2 preferred shares, according to a statement form the company.
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The United States Maritime Alliance, the employer group that negotiates the master contract with the International Longshoremen's Association, called the ILA’s planned work stoppage threat “disturbing.”
The appointment of outgoing Canadian Pacific Chief Executive E. Hunter Harrison as CEO of Class I railroad CSX is still contingent on a shareholder vote over $84 million in benefits and equity awards he forfeited by leaving CP six months ahead of schedule.